Starter: Thinking outside the box - PowerPoint PPT Presentation

Starter: Thinking outside the box. Some months have 30 days, some have 31 days, how many have 28 days? Divide 30 by half, then add 10 what do you get? 3. A farmer has 17 sheep and all but 9 die. How many are left?. Changing business aims and objectives. GCSE Business studies Unit 2

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For example my objective of achieving the best grade I could in my GCSE Business exam is now redundant as I have already taken it, I got an A* by the way. Where as my aim of marrying Megan Fox, I now appreciate is a little unrealistic, I have changed my aim to just meeting her!!!

Why do aims and objectives change? certainly change. Either you will have achieved some of your objectives and will now set new ones, or you will realise that some of your original aims were not realistic.

The aims and objectives of a business will change over time. In particular, as they get bigger they are likely to have different objectives that when they first started out.

Why do aims and objectives change? certainly change. Either you will have achieved some of your objectives and will now set new ones, or you will realise that some of your original aims were not realistic.

In the beginning, an entrepreneurs first thoughts are generally about getting the business up and running and making sure it survives the first few months.

Once this has been achieved, the owner may think more about other objectives

Task – Fizz & burp drinks co. certainly change. Either you will have achieved some of your objectives and will now set new ones, or you will realise that some of your original aims were not realistic.

Working in 2/3s, read the case study and complete the activity in your exercise books

You have 7 minutes!!!

Growth, innovation & diversification certainly change. Either you will have achieved some of your objectives and will now set new ones, or you will realise that some of your original aims were not realistic.

Growth certainly change. Either you will have achieved some of your objectives and will now set new ones, or you will realise that some of your original aims were not realistic.

By getting bigger, firms may be safer from hostile takeovers because they will be worth a lot more and be more expensive to buy. Some investors will also be keen to grow because this provides a sense of achievement. For example, look at what Bill Gates has achieved with Microsoft since he founded the business in 1975!

Growth can be organic or external have the greatest power over suppliers, distributors and other firms in the industry. The dominant firm may be able to set a price that other will follow because they do not want to start a war with the biggest business in the market.

Organic growth: occurs when firms get bigger by selling more of their products

External growth: occurs when a business joins with or buys another business. This leads to faster and more sudden increases in size.

Quick questions have the greatest power over suppliers, distributors and other firms in the industry. The dominant firm may be able to set a price that other will follow because they do not want to start a war with the biggest business in the market.

Write down the questions and answers in your books.

Give two reasons why a business owner may want the business to get bigger?

Give two benefits of the business getting bigger

Give one benefit of being the biggest firm in the market?

Extension task have the greatest power over suppliers, distributors and other firms in the industry. The dominant firm may be able to set a price that other will follow because they do not want to start a war with the biggest business in the market.

Working in 2/3s, use the internet to research the following:

From a business studies point of view, what are the meaning of the following: innovation & diversification